Ann: Lockyer Deep-1 Operational Update, page-48

First 48 Last

Share
Profile

Follow
alogi3

378 Posts.

85

27/09/21

12:25

Post #: 56372939
Share

Originally posted by seahunt: ↑

"The Ensign 970 rig will remain on location to progress the milling operation while additional milling equipment is being
sourced, should it be required. The resulting delay to well completion is not anticipated to materially affect the timing
of production testing of the Kingia Sandstone reservoir, for which the necessary test equipment is currently being
procured and mobilised."

The way I read it is that the flow equipment is not on site yet and the rig is milling out the shit cement job.
So no delay to flow test.

"The Company remains more than adequately funded to complete the remedial works, conduct the
production test, and complete the planned 3D and 2D seismic programs that will inform future appraisal and
exploration programs"

No CR before 3D and 2d's by which time there will be a clearer picture of what leads D and E may have in place.
By the time we need a CR the price should be a lot higher than now

"As such we remain on track to test the exceptional
quality Kingia reservoir during Q4 CY 2021, whereupon we expect to confirm that the Lockyer Deep-1 discovery is
one of the highest deliverability onshore gas reservoirs in Australian history."

Those words should be enough to keep the price momentum going north.

Expand

Agreed. Looks like everyone is selling on the expectation NWE will be capital raising the $5mil.

Alot to happen before we see a CR IMO I'd guess CR in the high 20's

NWE Price at posting: 2.2¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

Is the ASX getting its groove back? Here's 5 IPOs in September to watch

BOE

Boss Energy ramps up as industrial-scale plant build continues; FY25 guidance of 850Klb intact

SKS

SKS secures $20M for extension works on Melbourne data centre

GDP grows 0.2% in June quarter, but annual growth the slowest since the 1990s

EBR

EBR Systems' heart pacing device on-target to reach the US market